CPI International Holding Corp. reported unaudited consolidated earnings results for the second quarter and six months ended March 29, 2013. For the quarter, the company reported sales of $102.219 million compared to $96.457 million a year ago. Operating income was $8.642 million compared to $7.020 million a year ago. Income before income taxes was $1.789 million compared to $193,000 a year ago. Net income was $1.3 million compared to net loss of $317,000 a year ago. Adjusted EBITDA was $16.248 million compared to $14.213 million a year ago. For six months, the company reported sales of $199.780 million compared to $189.438 million a year ago. Operating income was $17.956 million compared to $11.555 million a year ago. Income before income taxes was $4.242 million compared to loss before income taxes of $2.098 million a year ago. Net income was $2.751 million compared to net loss of $1.956 million a year ago. Net cash provided by operating activities was $9.905 million compared to $3.859 million a year ago. Capital expenditures were $2.691 million compared to $4.363 million a year ago. Adjusted EBITDA was $33.1 million compared to $26.951 million a year ago. The company provided earnings guidance for the full year of 2013. For the year, the company expects total sales of between $415 million and $425 million; Adjusted EBITDA of between $66 million and $68 million; and Adjusted free cash flow of more than $17 million. The company expects its effective tax rate for fiscal 2013 will be approximately 39%.

CPI International Holding Corp., Q2 2013 Earnings Call, May 08, 2013

CPI International Holding Corp. announced unaudited consolidated earnings results for the first quarter ended December 28, 2012. For the quarter, the company reported net income totaled $1.5 million, improving from the $1.6 million net loss recorded in the same quarter of the previous year. The increase in net income was primarily the result of higher total sales and sales of products with higher margins in the most recent quarter. Adjusted EBITDA totaled $16.9 million, or 17.3% of sales, an increase from the $12.7 million, or 13.7% of sales, in adjusted EBITDA in the same quarter of the prior year. This increase was primarily due to higher total sales and sales of products with higher margins in the first quarter of fiscal 2013. The company reported sales of $97.6 million compared to $92.98 million, operating income of $9.3 million compared to $4.5 million, income before income taxes of $2.5 million compared to loss before income taxes of $2.3 million, net cash provided by operating activities of $12.3 million compared to $6.1 million, capital expenditures of $1.6 million compared to $1.8 million for the last year. Free cash flow was $23.9 million and adjusted free cash flow $24.1 million. The company is reconfirming its previously issued financial guidance for fiscal 2013. The company expects: Total sales of between $410 million and $425 million; Adjusted EBITDA of between $66 million and $68 million; and adjusted free cash flow of more than $17 million. The company believes its effective tax rate for fiscal 2013 will be approximately 42%.